Export lamb and beef prices reached new highs in the September 2019 quarter, while forestry products fell sharply.
Liz Coutts has been appointed the new chair; Coutts joined Skellerup’s board in 2002, and is currently chair of the company’s audit and risk management committee.
Coutts said it was an exciting time for Skellerup, which has delivered solid results over the past couple of years despite many of its key customer groups having to manage tough market conditions.
The company provides rubber products to the dairy industry; low milk prices affected the company’s agri business.
Coutts paid tribute to Cushing’s contribution and noted he remains a director and Skellerup’s largest shareholder.
“Selwyn has been an outstanding chairman. Under his leadership Skellerup has greatly improved its performance to deliver shareholders consistent financial results, a robust financial position and increased dividends. His are big shoes to fill.”
Over the past 20 years, Coutts has been a director of companies operating in various sectors including primary production, manufacturing, logistics, and sport. She is currently chair of aged care provider Oceania Healthcare, Ports of Auckland and privately-owned fishing company Urwin & Co, and a director of EBOS Group, Sanford, Yellow Pages and Tennis Auckland. She is also vice president of the Institute of Directors, and was last year appointed an Officer of the New Zealand Order of Merit for services to governance.
Coutts is one of four independent directors on the six-strong Skellerup board.